Identifying missing half of journal entries. In the business world, many transactions are routine and repetitive. Because accounting records business transactions, many accounting entries are also routine and repetitive. Knowing one-half of an entry in the double-entry recording system often permits a reasoned guess about the other half. The items below give the account name for one-half of an entry. Indicate your best guess as to the nature of the transaction being recorded and the name of the account of the routine other half of the entry. Also indicate whether the transaction increases or decreases the other account.

a. Debit: Cost of Goods Sold

b. Debit: Accounts Receivable

c. Credit: Accounts Receivable

d. Debit: Accounts Payable

e. Credit: Accounts Payable

f. Credit: Accumulated Depreciation g. Debit: Retained Earnings h. Credit: Prepaid Insurance i. Debit: Property Taxes Payable j. Debit: Merchandise Inventory k. Debit: Advances from Customers I. Credit: Advances to Suppliers